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C-Job Naval Architects unveils Autonomous Underwater Maintenance Dredger design

C-Job Naval Architects revealed its concept design of an Autonomous Underwater Maintenance Dredger. The unique design was presented by the independent ship design and engineering company at the combined Maritime and Port Technology and Development Conference (MTEC) and international Conference on Maritime Autonomous Surface Ships (ICMASS) in Trondheim, Norway. The Autonomous Underwater Maintenance Dredger (AUMD) concept design developed by C-Job’s Research and Development department is specifically created for maintenance in port environments. The team took advantage of the opportunities and out-of-the-box solutions autonomous vessels provide such as completely submerging a ...

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Daewoo Shipbuilding suffers 296 bln-won net loss in Q3 on one-off costs

Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder, on Thursday reported a third-quarter net loss of 296.4 billion won (US$253 million) due to one-off costs. Daewoo Shipbuilding’s net losses for the three months ending Sept. 30 narrowed from 323.9 billion won deficit a year ago, but the result is still a disappointing turnaround from the two previous quarters when the company stayed in the black. The shipbuilder also posted an operating loss of 256.3 billion won in the July-September period, marking its first loss in seven quarters. ...

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Hung Hua Construction Of Taiwan Orders Third Fast Crew Supplier This Year To Support Offshore Wind Ambitions

Hung Hua Construction of Taiwan has ordered a third Damen Fast Crew Supplier (FCS) to add to the two it ordered at the start of the year. This latest vessel will be a Damen FCS 2610. The contract was signed by the two parties at the start of September and, with the vessel already on stock at Damen Shipyards Singapore, it will be delivered this month following finishing and some customisation. It will be the company’s first operational vessel. The FCS 2610 is a best-selling design that proven itself time ...

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EU to rule on $1.8 billion Korean shipbuilders deal by Dec. 17

Hyundai Heavy Industries, the world’s biggest shipbuilding group, kicked off a EU regulatory process by seeking European Commission approval for its bid to acquire second-ranked Daewoo in a 2.1 trillion won ($1.8 billion) deal. Hyundai (009540.KS) announced the deal to create the world’s biggest shipbuilder with a 21 percent market share in January. The Commission has set a Dec. 17 deadline for its decision, the company said. The EU competition enforcer can either clear the deal with or without concessions or open a full-scale investigation if it has serious concerns. ...

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Samsung Heavy Industries’ Labor and Management Take Joint Steps to Secure Orders

Samsung Heavy Industries’ labor and management representatives have recently visited Malaysia together to attend an event organized by the company’s client. It is a stark contrast to situations at other Korean shipbuilders that are still suffering from labor conflicts. Nam Joon-woo, president of Samsung Heavy Industries and Kang Il-nam, chairman of Samsung Heavy Industries Workers’ Council, attended an invitation event hosted by MISC, a Malaysian shipping company, on Nov. 11 (local time), said Samsung Heavy Industries on Nov. 12. At the event, the two officials met with executives of SRM, ...

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Hyundai Heavy submits application for EU approval on Daewoo Shipbuilding takeover

Hyundai Heavy Industries Group, South Korea’s leading shipbuilding conglomerate, said Wednesday it has submitted an application to the European Union (EU) for approval for its proposed takeover of local rival Daewoo Shipbuilding and Marine Engineering Co. Hyundai Heavy said its request will be reviewed by anti-trust authorities at the European Commission, with the result expected to come out next year. Hyundai Heavy has been taking prerequisite steps since April to apply for the EU’s mergers and acquisitions approval. In March, Hyundai Heavy signed a formal deal, worth an estimated 2 ...

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Cochin Shipyard Q2 net profit rises 40% to Rs 206.3 crore, income up 22%

State-owned Cochin Shipyard on Tuesday reported a 40.3 per cent rise in its consolidated net profit to Rs 206.33 crore for the quarter ended September 2019. The company had clocked a net profit of Rs 147.05 crore in the corresponding quarter of the previous financial year, it said in a regulatory filing to the BSE. Its total income on a consolidated basis for the quarter rose 22.8 per cent to Rs 1,050.8 crore, compared with Rs 855.28 crore in the corresponding period of the previous financial year. Total expenses were ...

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S. Korea recaptures No. 1 spot in shipbuilding orders in Oct.

South Korea recaptured the top spot in global shipbuilding orders last month, industry data showed Tuesday, on the back of its dominance in the liquefied natural gas (LNG) carrier market. In October, local shipyards, led by Hyundai Heavy Industries Co., won orders totaling 1.29 million compensated gross tons (CGTs) to build 17 ships, accounting for 86 percent of the orders placed around the globe, according to London-based Clarkson Research Services Ltd., the world’s leading provider of data for the shipping and shipbuilding industries. China, which topped global shipbuilding orders in ...

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MHI-MME Exhibits at MARINTEC CHINA 2019

Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (MHI-MME) will exhibit at MARINTEC CHINA 2019 to be held at Shanghai, China from December 3 to 6, 2019. MARINTEC CHINA is Asia’s largest marine exhibition which is held every other year. And this exhibition celebrates the 40th anniversary. (Website: https://www.marintecchina.com/en-us/) MHI-MME’s booth will be located at Hall N1 Stand No. N1B4A-01 . MHI-MME will introduce a wide range of products, such as MET turbochargers, marine boilers and turbines, steering gears, fin stabilizers, propellers, deck cranes / deck machinery and Energy-saving ...

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Damen Marine Components Receives Steering System Contract For Sunstone’s Fifth Infinity-Class 200 Pax Polar Expedition Cruise Ship

Damen Marine Components (DMC) has received the contract to supply the rudders and steering gear for the fifth Infinity-class vessel to be built for SunStone Ships by China Merchants Heavy Industries to an Ulstein design. The contract was awarded once again by propulsion specialist Brunvoll Volda, with whom DMC is working on this ongoing series. DMC will supply two Van der Velden® ATLANTIC rudders and two Van der Velden COMMANDER™ rotary vane steering gear systems. The ATLANTIC is a full-spade rudder with a surface area of eight square metres and ...

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Damen secures repeat order from B.C. Ferry services

BC Ferries has awarded Damen Shipyards Group with a repeat order of four additional Damen Road Ferries 8117 E3, also known as the “Island Class vessels”. The diesel-electric hybrid ferries follow two such vessels that the client ordered from Damen back in 2017. The four new vessels will provide inter-island ferry services between Vancouver and Vancouver Island. Damen was awarded the order following a competitive tender process that began around a year ago, Damen sales manager Leo Postma explains. “The fact that Damen had designed the original two island class ...

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Samsung Heavy, DSME troubled by canceled drillships

Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) are facing difficulties in collecting payments for drillships as overseas buyers cancel contracts, according to industry officials, Sunday. After reflecting on costs from the canceled drillships, Samsung Heavy posted a hefty operating loss in the third quarter, extending its losing streak for the second year. DSME is yet to reveal its third-quarter earnings but analysts expect a drop of up to 60 percent in its operating profit. According to Samsung Heavy, it logged a 312 billion won ($269.5 million) operating ...

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Vard shipyard weighs on Fincantieri 9-month results

Italian shipbuilder Fincantieri FCT.MI said its nine-month results were dented by a negative performance of its subsidiary Vard, which is undergoing reorganisation. In the January-September period, earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 287 million euros, with a margin on sales of 6.7%. “The results are impacted by the negative contribution of Vard, which suffers from the ongoing effect of the deep crisis of its reference market of Oil & Gas, and from the costs incurred following its entrance into the cruise shipbuilding market,” Chief Executive ...

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KT, Hyundai Heavy join hands for 5G-based smart factory

Major telecom operator KT Corp. and leading shipbuilding conglomerate Hyundai Heavy Industries Group said Thursday they will step up collaboration to develop advanced smart factory solutions based on the 5G network to improve efficiency and safety. In May, the two companies signed a memorandum of understanding to join forces for a 5G-based smart factory. They have been working on projects to combine KT’s 5G network, artificial intelligence and big data technologies with Hyundai Heavy Industries’ robotics and shipbuilding expertise. Following a 5G network rollout for enterprises in December, KT has ...

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Samsung Heavy Industries Loses US$1.5 Bil. FPSO Project to Japan-China Alliance

Mitsui Ocean Development & Engineering Co. (MODEC) was recently selected as the floating production, storage and offloading (FPSO) unit supplier for the Barossa Project, an offshore gas field development project off the coast of northwestern Australia. The FPSO part of the project alone is estimated at US$1.5 billion. MODEC clinched the part on a turnkey basis. MODEC is planning to design the FPSO unit before Dalian Shipbuilding Industry Co. builds it as a sub-subcontractor. Previously, MODEC established a joint venture for technology transfer and financial support to work more closely ...

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